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What is a credit union?

The Credit Union National Association (CUNA) states "Credit unions are member-owned, democratically governed, not-for-profit cooperative financial institutions generally managed by volunteer boards of directors, with a specified mission of promoting thrift and providing access to credit for provident purposes to their members, especially those of modest means.".

 Like banks, credit unions accept deposits, make loans and provide a wide array of other financial services. But as member-owned and cooperative institutions, credit unions provide a safe place to save and borrow at competitive rates.  Credit unions are democratically governed and elections are based on a one-member, one-vote philosophy. Accounts are insured by the National Credit Union Association (NCUA) up to $250,000.

Member-owned: Credit unions are owned by the people, or members, who use their services.

Not-for-profit: Profits made by credit unions are returned back to members in the form of reduced fees, higher savings rates and lower loan rates.

Membership: Members of a credit union share a common bond, also known as the credit union's "field of membership". Establishing a membership account at any credit union requires depositing and maintaining a par value share.  For Y-12 FCU, the par value amount is just $1. 

Membership in Y-12 Federal Credit Union is open to anyone who lives, works, worships, or attends school in the following counties:
  • Anderson
  • Blount
  • Campbell
  • Knox
  • Loudon
  • Roane
  • Sevier
  • Union

At Y-12 Federal Credit Union you are more than a member — you are part of our family.

Become a Y-12 Member


The USA Patriot Act
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.  What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver's license or other identifying documents.

After clicking the CONTINUE button, you will be redirected to a web site that is not operated by Y-12 Federal Credit Union. Please review the website's privacy and security policies as they may differ from Y-12 Federal Credit Union.